REG - Smith & Nephew Plc - Board Changes

Smith & NephewAnnouncement

14/09/2023 07:15

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RNS Number : 3667M  Smith & Nephew Plc  14 September 2023

 

Appointment of Non-Executive Directors and Confirmation of Chair

14 September 2023

Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology company,
announces the following Board appointments.

The Company is pleased to announce that Jeremy (Jez) Maiden and Simon Lowth
will be joining the Board as independent Non-Executive Directors. Jez joins
today and will serve as a member of the Audit Committee and Remuneration
Committee. Simon will join on 1 January 2024 and will serve as a member of the
Audit Committee and Nomination & Governance Committee.

Additionally, Rupert Soames will, as planned, assume the role as Chair of the
Board on 15 September, in succession to Roberto Quarta. Rupert has also been
appointed as Chair of the Nomination & Governance Committee and will
continue to serve on the Remuneration Committee.

Jez Maiden has extensive global financial experience across a diverse range of
industries and sectors. He retired earlier this year as Group Finance Director
at Croda International, the FTSE-100 global speciality chemicals company, and
before that held similar roles at National Express Group and Northern Foods.
He is currently Senior Independent Director at Travis Perkins plc and a
Non-Executive Director and member of the Audit Committee at Intertek Group
plc. Previously, he served as the Senior Independent Director at Synthomer and
at both PZ Cussons and Synthomer he chaired the Audit Committee and served on
the Remuneration Committee. He is a fellow of the Chartered Institute of
Management Accountants.

Simon Lowth has deep experience in finance, accounting, risk, corporate
strategy as well as mergers and acquisitions. He currently serves as Group
Chief Financial officer of BT Group, a role he has held since 2016 and
previously performed the same role at BG Group, AstraZeneca and Scottish
Power. Before joining Scottish Power, he led the Industrial Practice of
McKinsey in the UK and has a background in engineering. He previously served
as a Non-Executive Director on the Board of Standard Chartered. He currently
holds no additional external appointments.

Rupert Soames commented:

"We are delighted to be able to announce two such strong appointments to our
Board. Simon and Jez bring deep executive and non-executive experience of
serving on boards of companies which have had to address strategic and
operational challenges across a number of different industries, including
life-sciences and healthcare. They both have experience of supervising large
operations in the US, Europe and Asia and of working in highly-regulated
industries.

"Simon brings a wealth of expertise across a wide range of sectors, including
within regulated industries. Having served as the CFO in four FTSE-100
companies, including AstraZeneca and, currently, BT, he has deep experience of
capital markets, implementing strategic change, cost transformation and
performance improvement programmes as well as understanding how technology can
be used to transform a business, all of which will be very helpful to the
Board.

"Jez brings more than 15 years of experience both as a FTSE Chief Financial
Officer and as a Non-Executive Director in businesses involved in
manufacturing, science and technology and will be a valuable addition to the
Board and its Committees.

"Finally, I want to pay tribute to my predecessor Roberto Quarta who has
delivered great service to the Company since taking over as Chair of Smith
& Nephew in 2014. He has shown immense diligence and skill leading the
Board and helping to navigate the company through challenging times; my
colleagues on the Board and across the business are grateful for his
leadership and commitment."

No disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of
the UK Listing Authority's Listing Rules in respect of the two new
appointments. In line with current Non-Executive Directors, Jez Maiden and
Simon Lowth will each be paid annual fees of £69,500, of which £6,500 will
be paid in Smith+Nephew shares.

 

Enquiries

 

 Investors / Analysts

 Andrew Swift                      +44 (0) 1923 477433

Smith+Nephew

 Media

 Charles Reynolds                  +44 (0) 1923 477314

Smith+Nephew

 Susan Gilchrist / Ayesha Bharmal  +44 (0) 20 7404 5959

Brunswick

 

About Smith+Nephew

 

Smith+Nephew is a portfolio medical technology business that exists to restore
people's bodies and their self-belief by using technology to take the limits
off living. We call this purpose 'Life Unlimited'. Our 19,000 employees
deliver this mission every day, making a difference to patients' lives through
the excellence of our product portfolio, and the invention and application of
new technologies across our three global franchises of Orthopaedics, Advanced
Wound Management and Sports Medicine & ENT.

 

 

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and
generated annual sales of $5.2 billion in 2022. Smith+Nephew is a constituent
of the FTSE100 (LSE:SN, NYSE:SNN). The terms 'Group' and 'Smith+Nephew' are
used to refer to Smith & Nephew plc and its consolidated subsidiaries,
unless the context requires otherwise.

 

For more information about Smith+Nephew, please visit www.smith-nephew.com
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Forward-looking Statements

This document may contain forward-looking statements that may or may not prove
accurate. For example, statements regarding expected revenue growth and
trading profit margins, market trends and our product pipeline are
forward-looking statements. Phrases such as "aim", "plan", "intend",
"anticipate", "well-placed", "believe", "estimate", "expect", "target",
"consider" and similar expressions are generally intended to identify
forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could cause
actual results to differ materially from what is expressed or implied by the
statements. For Smith+Nephew, these factors include: risks related to the
impact of Covid, such as the depth and longevity of its impact, government
actions and other restrictive measures taken in response, material delays and
cancellations of elective procedures, reduced procedure capacity at medical
facilities, restricted access for sales representatives to medical facilities,
or our ability to execute business continuity plans as a result of Covid;
economic and financial conditions in the markets we serve, especially those
affecting healthcare providers, payers and customers (including, without
limitation, as a result of Covid); price levels for established and innovative
medical devices; developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product defects or
recalls or other problems with quality management systems or failure to comply
with related regulations; litigation relating to patent or other claims; legal
and financial compliance risks and related investigative, remedial or
enforcement actions; disruption to our supply chain or operations or those of
our suppliers (including, without limitation, as a result of Covid);
competition for qualified personnel; strategic actions, including acquisitions
and disposals, our success in performing due diligence, valuing and
integrating acquired businesses; disruption that may result from transactions
or other changes we make in our business plans or organisation to adapt to
market developments; relationships with healthcare professionals; reliance on
information technology and cybersecurity; disruptions due to natural
disasters, weather and climate change related events; changes in customer and
other stakeholder sustainability expectations; changes in taxation
regulations; effects of foreign exchange volatility; and numerous other
matters that affect us or our markets, including those of a political,
economic, business, competitive or reputational nature. Please refer to the
documents that Smith+Nephew has filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as amended,
including Smith+Nephew's most recent annual report on Form 20-F, which is
available on the SEC's website at www. sec.gov, for a discussion of certain of
these factors. Any forward-looking statement is based on information available
to Smith+Nephew as of the date of the statement. All written or oral
forward-looking statements attributable to Smith+Nephew are qualified by this
caution. Smith+Nephew does not undertake any obligation to update or revise
any forward-looking statement to reflect any change in circumstances or in
Smith+Nephew's expectations.

 

(◊) Trademark of Smith+Nephew. Certain marks registered in US Patent and
Trademark Office.

 

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